Determinants of growth and business cycles

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Economic growth and business cycles are interrelated challenges for policymakers and economists globally. In industrial nations, upcoming demographic shifts will significantly influence economic dynamics. Concurrently, increasing interdependency among economic regions presents challenges for both industrialized and developing countries. Business cycles often exhibit cyclical patterns, with periods of strong growth leading to perceptions of obsolescence and the emergence of a 'new' economy. Analysts face difficulties in monitoring these developments in real time due to overlapping cyclical and structural patterns, complicating their assessments. The INFER Annual Conference 2003, held in September in Giessen, Germany, addressed these issues under the theme “Determinants of Growth and Business Cycles: Theory, Empirical Evidence and Policy Implications.” The conference featured theoretical papers, empirical results, and case studies, emphasizing practical relevance. Contributions were organized into three sessions: the first on “Determinants of Growth,” the second on “Business Cycles: Theory and Empirical Evidence,” and the third on “Convergence and Economic Development.” Participants hailed from two continents and eight countries, representing research institutes, universities, central banks, and international organizations.